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Richard Angliss

Richard Angliss. Home Buyer Systems The ‘Next Generation’ Sourcing System. HBS Sales Training. Objectives. How To: Build a Genuine WoM business Attract new business and Lead Generation To successfully charge fees Provide an Admin service

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Richard Angliss

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  1. Richard Angliss Home Buyer Systems The ‘Next Generation’ Sourcing System

  2. HBS Sales Training Objectives How To: • Build a Genuine WoM business • Attract new business and Lead Generation • To successfully charge fees • Provide an Admin service • Retain customers and get Insurance business

  3. HBS Post Credit Crunch Problems • Direct Products more competitively priced • Potential customers using Comparison sites • 12% Products are Intermediary over 75% LTV • Lenders not supporting Intermediary distribution • Finding cannot place 70 – 80% of new enquiries • If cannot place mortgage don’t get insurance • Can they still meet FSA “Independent” criteria?

  4. HBS Evidence of Problems Home Buyer Sourcing Index (HBSI) Second Time Buyer - Intermediary Products Available by LTV

  5. HBS Evidence of Problems Home Buyer Sourcing Index (HBSI) Second Time Buyer - Price Difference by LTV

  6. HBS Post Credit Crunch Solutions • Pre Credit Crunch Proc Fees meant did not have to “sell” mortgage advice • Post Credit crunch Proc Fees largely gone or reduced – Possibility RDR remove altogether • Mortgage sourcing has to become a “mortgage sales process” • A process that allows you to earn at least as much per case as you did Pre Credit Crunch • More emphasis on Insurance sale – like in 80’s

  7. HBS Features of Post Credit Crunch Process • Reinvent total approach to customers • Sourcing from WoM • Use Intermediary v Direct Comparison to ensure income – Customer or Procuration Fee • Devise strategy for earning income from aiding with application

  8. HBS The Story 12 Months On • In Last 12 Months Built sales Process which Includes: • A unique Fee Justification tool • Online Factfind Invite • Marketing tool • Facility to take fees by Credit or Debit Card • Admin system (MI Zone)

  9. HBS How is HBS Being Used • Checking Direct Deals before recommending Intermediary product • Fee based Research Service (£99 to £250) • Research and Recommendation/Application – if product Direct charging fee (0.25% to 1%)

  10. HBS What Challenges Does This Present? • Charging Fees • Lenders will not deal with you on Direct Products (starting to see a softening on this) • How do you stop customers getting your advice for free and then going direct? • How do you demonstrate you can help with the application

  11. HBS Sales Process Approach • All sales depend on “Approach” – how you set it up with customer • Need to be well rehearsed – need to practice the “Approach” • Need to identify the different possible outcomes and have answers • People buy people so need to be confident – a confident attitude wins customers • Hard work on Approach now is an investment in the future of your business – so practice will pay

  12. HBS Sales Process Approach (cont) • Suggested approach: • Lenders have 2 channels for selling their products. Directly (i.e Branches, Telephone, Internet) or via Intermediaries • Most Mortgage Brokers only offer Intermediary products I source both • Lenders that have Intermediary products pay a fee to Brokers to subsidise the cost of people getting advice from them (aka a Proc Fees)

  13. HBS Sales Process Approach (cont) • Suggested approach: • I will take your details and ask you some questions to enable me to find the most appropriate products for you • Then I will produce an analysis that will allow you to decide what is most attractive to you • Once you have decided which product you would like to apply for I can support you through the application process

  14. HBS Sales Process Approach (cont) • Suggested approach: • 4 Submission routes to lender • Branch • Telephone • Internet • Intermediary • Branch – Coach, prepare, refuse Insurance • Tel – Same as Branch but you can be present • Internet – You can do this from factfind

  15. Mortgage Sales Process Source Without Lenders Named

  16. Mortgage Sales Process Source Without Lenders Named

  17. Mortgage Sales Process Do Comparison

  18. Mortgage Sales Process Get Customer To Decide On Fee

  19. HBS Get Customer To Decide On Fee • The Analysis shows which option is cheapest • At lower LTV’s and larger loans Intermediary products can be cheapest • Mainly it is Direct products though • Give customer choice – pay fee and make saving or don’t pay fee (or lower fee) and have Intermediary product • Or base fee on percentage of saving (say 25%)

  20. Mortgage Sales Process Get Customer to Agree To Admin Service

  21. Mortgage Sales Process Get Customer to Agree To Admin Service

  22. Mortgage Sales Process Use Conveyancing To Enhance Fees

  23. Mortgage Sales Process Credit/Debit Card Taking Facility

  24. Mortgage Sales Process Credit/Debit Card Taking Facility

  25. Mortgage Sales Process Credit/Debit Card Taking Facility

  26. Mortgage Sales Process mi-Zone Admin Service

  27. HBS mi-Zone Admin Service • Provides an online collaboration service with customer • Creates an e-mail address that the system uses and is given to lenders on Application • This means all correspondence can be seen here by both Advisor and customer • Advisor responds to correspondence customer can check this and progress by logging in • Other documents can be attached

  28. Mortgage Sales Process Marketing Tool

  29. Mortgage Sales Process Marketing Tool

  30. Mortgage Sales Process Marketing Tool – Which? Report

  31. HBS Lead Generation • Finding many Estate Agents have lost Mortgage Advisors – open to talk especially to someone who can prove can place more business • Even for Estate Agents with a Mortgage Advisor our customers are asking for what they can’t place • Same as for Estate Agents but New Builds • Some of our customers posting an analysis through doors of houses for sale

  32. Mortgage Sales Process Factfind and Research

  33. Mortgage Sales Process Factfind and Research

  34. Mortgage Sales Process Factfind and Research

  35. Mortgage Sales Process Screen to Screen Selling

  36. HBS Lite In Summary • Post Credit Crunch Sales Process • WoM sales strategy required • Reinvention of whole approach • Remuneration model to be more fee based • Sale of insurances key to success – like 80’s • Allows you to promote yourself as “Independent”

  37. HBS Lite What’s In It For You? • People need Advisors as much as they ever have - finding right approach will bring rewards • Competition dwindling as old approach does not work anymore – AMI expect Advisor numbers to fall to 12,000 from high of around 40,000 • This approach will never leave you at the mercy of the lenders ever again • Potential to find new introductory sources, Estate Agents, IFA’s that don’t do mortgages, Builders

  38. HBS Lite What Do Fellow Professionals Say? “The mortgage market has changed, probably for ever, and it is no use using tools developed for yesterday's market to survive and prosper today. HBS is a system designed to help the adviser prosper in today's climate. We want to provide our advisers with a tool which will put them in a strong position with clients regardless of any future changes in distribution which may occur and I believe HBS does just that.” Mark Banfield (MD) – AFP Mortgage and Protection

  39. HBS Lite Case Study – Customer Details • Advisor: Neil Soundy • Company: Neil Soundy FS • Customer: First Time Buyer • Loan Required: £132,000 • LTV: 90% • Property Value: £146,667 • Recommended by previous Advisor - 5yr 7.25% Fixed with RBS

  40. HBS Lite Case Study – Sourcing

  41. HBS Lite Case Study – Sourcing

  42. HBS Lite Case Study – Comparison

  43. HBS Lite Case Study – Results • Recommendation: RBS 5.99% 5yr Fixed • Advisor Fee: 0.3% (£396) • Saving on Set up: £999 (no Arrangement Fee) • Monthly Saving: £144.81 • Total Saving (5yrs): £8688.38 • Plus Life and B&C commission - £1600 • Total Earnings: £1996

  44. Home Buyer System A TOTAL SOLUTION FOR THE REGULATED GI & MORTGAGE MARKET The Next Generation Sourcing System

  45. Home Buyer System Pricing For New Services • Sales and Marketing Process £5 • mi-Zone  £10 • mi-Zone Introducer £10 • mi-Zone Introducer Unlimited £30

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